9AT: FIRST NATIONAL ADVISERS, LLC

Adviser Profile

As of Date	06/16/2026
Registration	SEC, Approved, 08/07/2015
ADV Location	OMAHA, NE, United States
Contact Info	(80 xxxxxxx
Websites

AUM^*	7,369,671,462 18%
of that, discretionary	7,369,671,462 18%
Number of Employees	35 -5%
of those in investment advisory functions	20 -35%
Private Fund GAV^*	0
Avg Account Size	1,927,719 25%
% High Net Worth	27.42% 42%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Banking or thrift institutions
- Investment companies
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Accounting Firm Name	Filing Date	Form ADV-E
Accounting Firm Name COHEN & CO	Filing Date12/29/2025	Form ADV-E View Report
Accounting Firm Name COHEN & CO	Filing Date03/27/2025	Form ADV-E View Report
Accounting Firm Name COHEN & COMPANY	Filing Date06/28/2023	Form ADV-E View Report

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser SHELTON CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM6.5b	#Funds-
Adviser MAINSTREET RIA LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM446.4m	#Funds-
Adviser ADVISORS ASSET MANAGEMENT, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund44.6m	Total Private Fund GAV44.6m	AUM2.2b	#Funds1
Adviser THE CAPITAL GROUP INVESTMENT ADVISORY SERVICES, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.2b	#Funds-
Adviser HFG ADVISORS, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM113.4m	#Funds-
Adviser ORLEANS CAPITAL MANAGEMENT CORP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM2.1b	#Funds-
Adviser SPARROW CAPITAL MANAGEMENT INC	Hedge Fund9.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV9.0m	AUM113.3m	#Funds1
Adviser SAWYER FALDUTO ASSET MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM896.5m	#Funds-
Adviser GENEVA CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM5.6b	#Funds-
Adviser TWELE CAPITAL MANAGEMENT, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM578.5m	#Funds-

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker594918104	Stock NameMICROSOFT CORP	$ Position$41,996,995	% Position6.00%	$ Change1.00%	# Change-3.00%
Stck Ticker25434V203	Stock NameDIMENSIONAL ETF TRUST	$ Position$44,537,106	% Position6.00%	$ Change7.00%	# Change2.00%
Stck Ticker037833100	Stock NameAPPLE INC	$ Position$42,697,317	% Position6.00%	$ Change25.00%	# Change1.00%
Stck Ticker67066G104	Stock NameNVIDIA CORPORATION	$ Position$40,305,741	% Position5.00%	$ Change15.00%	# Change-3.00%
Stck Ticker023135106	Stock NameAMAZON COM INC	$ Position$20,723,945	% Position3.00%	$ Change5.00%	# Change5.00%
Stck Ticker02079K107	Stock NameALPHABET INC	$ Position$21,809,809	% Position3.00%	$ Change37.00%	# Change0.00%
Stck Ticker11135F101	Stock NameBROADCOM INC	$ Position$15,570,203	% Position2.00%	$ Change441.00%	# Change352.00%
Stck Ticker084670108	Stock NameBERKSHIRE HATHAWAY INC DEL	$ Position$12,067,200	% Position2.00%	$ Change3.00%	# Change0.00%
Stck Ticker46641Q332	Stock NameJ P MORGAN EXCHANGE TRADED F	$ Position$12,773,000	% Position2.00%	$ Change4.00%	# Change4.00%
Stck Ticker30303M102	Stock NameMETA PLATFORMS INC	$ Position$17,398,583	% Position2.00%	$ Change1.00%	# Change2.00%

Brochure Summary

Overview

First National Advisers, LLC (“FNA”) was founded in July 2015 and is a wholly-owned subsidiary of First National Bank of Omaha (“FNBO”). FNA, doing business as Private Wealth Reserve (“PWR”) provides Investment Advisory Services. FNBO is a wholly-owned subsidiary of First National of Nebraska, Inc. (“FNNI”). FNA provides discretionary investment management services to individuals and institutional investors, including affiliated entities. As of December 31, 2023, FNA’s discretionary assets under management were $6.2 billion for all advisory services. Managed Mutual Funds and Individual Equities Portfolios FNA actively manages mutual fund model portfolios that meet the needs of a wide range of investment objectives from aggressive to conservative, as well as environmental, social, and governance (“ESG”) investment models. FNA also manages individual equities and fixed income models that can be part of these portfolios or as stand-alone investment options. FNA’s investment advisory services are available through investment advisor representatives of Raymond James Financial Services Advisors, Inc. a federally registered investment adviser (“RJFSA”), who are also employees of FNBO, hereafter referred to as RJFSA Advisors. Investment Company

Sub-Advisor Investment Services FNA also serves as a sub-advisor to the Tributary Funds, Inc. (the “Tributary Funds”), a registered open- end investment company, which are proprietary funds to FNBO and therefore affiliates of FNA. FNA sub-advises the Tributary Balanced, Short- Intermediate Bond, Income and Nebraska Tax-Free Funds. Investment Advisory Services to FNBO and FNN Trust In addition to actively managing investment models, FNA has services agreements with FNBO and FNN Trust Company, LLC “FNN Trust”, to provide investment management support and supervisory services. ERISA Notice FNA understands and attests that they are an ERISA fiduciary as defined in the Fiduciary Rule under the Employee Retirement Income Security Act of 1974 (“ERISA”) and the Internal Revenue Code of 1986. FNA adheres to the Impartial Conduct Standards (including the “best interest” standard, reasonable compensation and no misrepresented information). This relates to all ERISA accounts including Individual Retirement Accounts (IRAs). FNA does not act as a discretionary investment manager of any Plan as defined in Section 3(38) of ERISA. FNA does not act as a non-discretionary investment manager of any Plan as defined in Section 3(21) of (“ERISA”).

FIRST NATIONAL ADVISERS, LLC

FIRST NATIONAL ADVISERS, LLC

PRIVATE WEALTH RESERVE

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Form ADV-E Surprise Examination Reports

Similar advisers

Top Holdings

Brochure Summary

Overview

Need help?

Send a question to 9AT support.

FIRST NATIONAL ADVISERS, LLC FIRST NATIONAL ADVISERS, LLC PRIVATE WEALTH RESERVE

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Form ADV-E Surprise Examination Reports

Similar advisers

Top Holdings

Brochure Summary

Overview

FIRST NATIONAL ADVISERS, LLC

FIRST NATIONAL ADVISERS, LLC

PRIVATE WEALTH RESERVE